Your Money | Ron Lieber
Emotions complicate planning for special needs relatives
Most people caring for a family member with special needs eventually assemble a financial checklist of sorts. They put together a team of health, legal, and financial experts who understand their relative’s condition. Then comes the estate plan and making sure they understand eligibility rules for any state or federal benefits. Checking these items off, however, as I did in a column last week, often proves to be the easier part of special needs planning. The harder part springs from two challenges that are ultimately rooted in emotion and behavior. It’s the psychological side, after all, that often plays a big role in just about every major financial decision.